Here's What Your Retirement Strategy Should Look Like with an $8M Portfolio

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 12 December 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here’s the thing: retirement isn’t just about hitting a magic number—it’s about understanding what you actually want out of your life once work is no longer in the picture. In their chat, Ari and James dive deep into this question, starting with a listener’s email: “I’ve got $7.8 million, no debt, and I’m 57—can I retire?” Sounds simple, right? Not quite. The duo walks through their Sequoia system, a framework designed to help people figure out whether they’re ready to retire and, more impor...

Transcript

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0:22.3	If you had $7.8 million, do you think you could retire? Some of you are like, of course. I mean, I don't even need that much. Others of you are like, I think so, but I don't really know if I really want to spend what I want to spend. Is that going to make sure? And what if I retire too early and who knows, that's what today is going to be all about is diving into a real case study, thinking through, do we have enough? And if you don't have 7.8 million, you can use this same framework, the principles we're going to go through to show
0:27.2	you how to think about it for your financial strategy. This is another episode of Ready for
0:33.5	Retirement. I'm your host, James Cannell, and I'm here to teach you how to get the most of
0:37.2	life with your money. And now, on to the episode. Yeah, now I think a lot of times it's easy
0:43.9	to think of, can I retire or not? Well, how big is your number? Do you have a big enough number?
0:48.7	And of course is different for everyone, but you get big enough, and it probably seems like, yeah, of course. Or if you get small enough, it probably seems like, no, of course not.
0:56.0	7.8 million, that's not just a random arbitrary number.
0:58.3	I think that came from somewhere.
0:59.6	Do you want to share where that came from Ari?
1:01.0	Let's share it.
1:01.7	So I got this email, and I posted it on Instagram as well, minus, of course, for security
1:06.7	reasons, their actual email. But the subject line says what you can see if you're watching on
1:11.4	YouTube. And if you're listening on the podcast app, whether it's early retirement podcast, ready for
1:16.3	retirement, we're going to explain it for you. Subject line says one simple yes or no answer on
1:22.1	early retirement. Hello, Ari. I've enjoyed watching the videos. I just need a simple yes or no.
1:27.1	If I have 7.8 million in my the videos. I just need a simple yes or no. If I have
1:27.8	7.8 million in my stock portfolio and I have no debt, can I at 57 years old and my wife,
1:35.0	who is 51 years old, retire right now? Thank you. So when that came in, I read everything that I
1:42.7	just told you right there, and I only read one thing. I read
1:45.2	him say, should I get surgery? I'm in pain. Now, my brain, and we're going to walk you guys
1:51.2	through it today, was thinking the following, do you want to retire? How will you spend your time?
1:55.8	What's your health like? What accounts do you have? Any gains? You plan to do another job that's
	...

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